Multiple companies are coming forward to help “burn” Shiba Inu tokens and reduce the circulating supply. The circulating supply of Shiba Inu stands at 549 trillion, and companies have come forward voluntarily to “burn” the tokens. The new contender in the ‘SHIB Burn’ segment is ShibaPlay, an extended wing of the SHIB Super Store, headed by Travis Johnson. ShibaPlay’s module is to “burn” Shiba Inu tokens from the monetization they generate on YouTube. ShibaPlay calls itself a “decentralized, community-driven project”† which aims to ‘burn’ tokens on a regular basis.
Also read: Shiba Inu: SHIB Super Store Wing Now Burns YouTube Revenue
How many Shiba Inu tokens did ShibaPlay ‘burn’?
ShibaPlay has “burned” nearly 2.43 billion Shiba Inu tokens in the past nine months. SHIB’s total earnings sent to the dead wallet are $58,171 at the time of printing. All of this is only coming from ShibaPlay and not from the overall SHIB Super Store ‘burn’ comprehensive count.
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The founder of ShibaPlay spoke exclusive to Watcher Guru and said the company’s goal is to continuously “burn” Shiba Inu. “Our main goal is to burn as much SHIB for free as possible and make it easy to do. Whatever helps make that possible, we would certainly do it.” He confirmed that the company is investigating various ways to withdraw the tokens from circulation. “Every day we look at different and better ways to burn SHIB,” he said.
“We have burned a total of 2,426,575,957 SHIB (2.43 billion) as of today, which is approximately $58,171. Our main source of income is BrickBuster,” he said.
ShibaPlay revealed that they “burn” over 95% of the total revenue they generate on YouTube. “We burn over 95% of the total revenue we make with everything”, said the founder. He also mentioned the project “community oriented.” ours is “a project powered entirely by the community.”
Also read: SHIB attracts heavy buying pressure for 12 days in July
What is ShibaPlay’s ‘brand target’?
ShibaPlay revealed that their “brand” goal is primarily to become a self-sustaining project and continue to remove tokens from circulation. “Our goal is to be a self-sustainable ‘SHIB burn’ project that will keep SHIB burn for free. Maybe eventually, along with other combustion projects, we become a sort of stabilizer, like miners.”
The founder revealed that the long-term goal is to attract investors beyond the Shiba Inu stage. Therefore, more investors can enter the SHIB fold and participate in the ‘burning’ of the token. “In the long run, we want to create products that will be used by the general public and not just SHIB supporters,” he said.
At the time of writing, Shiba Inu was trading at $0.000001018 and is down 2% in 24-hour trading. The dog-themed token is also down -88.2% from its all-time high of $0.00008616, which was reached in October last year.